Aerospace firm CAE investing $1B in training, innovation
The federal and Quebec governments will also make financial contributions. PM Trudeau expressed his enthusiasm for the venture
MONTREAL—Quebec-based CAE Inc., a manufacturer of aerospace training systems, announced that it will be investing $1 billion over the next five years in training and innovation.
The firm says one of the main objectives of the investment is to fund Project Digital Intelligence, a new program that will develop training solutions for aviation, defence and security, and healthcare.
CAE says it will work with small and medium companies from across Canada on technology solutions, along with 50 post-secondary institutions and research centres. The firm will also qualify more than 150 new suppliers.
“As a powerhouse of innovation, CAE has been at the forefront of the training industry, including digital technology, for years. This strategic investment will take our company to the next level,” said Marc Parent, president and CEO of CAE.
Parent said his firm will focus on technologies like artificial intelligence, big data and augmented reality.
He made the announcement Aug. 8 alongside Prime Minister Justin Trudeau and Quebec Premier Philippe Couillard at company headquarters in Montreal.
Prime Minister Trudeau said, “today’s announcement is about creating high-skilled jobs in Canada today, while making sure Canada’s next generation of pilots, engineers, doctors and nurses have access to some of the most advanced simulation tools and training programs in the world. With this funding, CAE will continue to raise the bar for training standards, from the cockpit to the operating room, and help drive the success of Canada’s aerospace industry.”
The federal and Quebec governments will provide a combined investment of close to $200 million.